Pacer Advisors Inc. Reduces Position in Uniti Group Inc. $UNIT

Pacer Advisors Inc. decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT) by 54.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 364,195 shares of the real estate investment trust’s stock after selling 441,888 shares during the period. Pacer Advisors Inc.’s holdings in Uniti Group were worth $2,553,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Uniti Group by 38.9% in the fourth quarter. Vanguard Group Inc. now owns 23,202,733 shares of the real estate investment trust’s stock valued at $162,651,000 after purchasing an additional 6,494,001 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Uniti Group by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,604,599 shares of the real estate investment trust’s stock worth $23,207,000 after buying an additional 877,911 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Uniti Group by 9.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,725,143 shares of the real estate investment trust’s stock valued at $7,453,000 after buying an additional 151,546 shares in the last quarter. Invesco Ltd. grew its holdings in Uniti Group by 61.6% in the 3rd quarter. Invesco Ltd. now owns 1,377,755 shares of the real estate investment trust’s stock valued at $8,432,000 after buying an additional 525,112 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Uniti Group by 11.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,265,258 shares of the real estate investment trust’s stock worth $5,466,000 after acquiring an additional 130,295 shares during the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on UNIT. Williams Trading set a $12.00 price objective on shares of Uniti Group in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of Uniti Group from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday. UBS Group set a $12.00 price target on shares of Uniti Group in a research note on Tuesday. Weiss Ratings raised shares of Uniti Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Finally, Barclays upped their price objective on Uniti Group from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.61.

Uniti Group Price Performance

UNIT opened at $11.25 on Friday. Uniti Group Inc. has a 12 month low of $5.30 and a 12 month high of $12.39. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 3.36 and a beta of 1.44. The business has a fifty day moving average price of $9.90 and a 200 day moving average price of $8.10.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $987.50 million during the quarter, compared to the consensus estimate of $930.08 million. Uniti Group had a net margin of 39.61% and a negative return on equity of 2.52%. The firm’s quarterly revenue was up 236.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, research analysts anticipate that Uniti Group Inc. will post -1.75 earnings per share for the current year.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.